Social media in small business is the greatest idea since sliced bread. Social media in small business and non-profit organisations is so useful for them. There are so many benefits that they can gain from advertising their business online. The main benefits for them is increased reach to new consumers, ability to conduct in depth critical market research,k and then overall increase their profit.
Small businesses and non-profits can use social media to generate more attraction towards their business or cause. The kind of advertising that can be achieved through social media is phenomenal. The reach that can be achieved is far more than what businesses would be able to garner if they used traditional advertising methods. This is particularly effective for increasing clientèle or raising awareness for a particular cause, with regards to non-profit organisations. The extra added benefit of advertising a business using social media, is that for the most part – it’s free! There are small fees you can pay should you want to ‘boost’ your advertisement as well. Small businesses and non-profits can use social media to run competition and have better overall communication with their clientèle.
The overall use of social media is bound to differ between small businesses and large businesses. Large businesses have a big budget to spend on advertising and that incorporates social media, whereas many small businesses and non-profits tend to have a much smaller budget to put towards it. Large companies have many more capabilities to engage in a B2C manner than small businesses do. While budget comes into it, there are many other things that larger businesses have that smaller businesses don’t. Larger businesses also have more people that they can use to engage with consumers, which therefore can help to increase overall profit.
From a B2B perspective, social media is particularly effective for a small business’ brand image. Social media can enable small businesses to do critical market research to compare their own businesses with others in their industry. Some small businesses like to collaborate to expose more people to their businesses. This creates diversity amongst the businesses and can have a positive effect upon market research.
Business have now transitioned to using a more mobile social media system in order to advertise their business, as opposed to more traditional approaches. Some very large businesses still continue to use both methods, however many businesses, large and small prefer to use mobile social media marketing because it is cheaper, faster and generates more reach to potential consumers. Few businesses still advertise on television or in magazines, or even the radio. Now, you see advertisements on Facebook, and hear ads on Spotify, as opposed to in the commercial break while you’re watching the news.
As far as I can see, there are no major risks that pose a threat to any businesses who use social media, providing they exercise proper judgement while online. For general advertising, social media is a fantastic platform to use, and with they way the world is going, more and more small businesses will be taking the opportunity to go online.